31 August 2005

Business Is Booming

According to an article in the August 30, 2005, New York Times, worldwide weapons sales in 2004 reached nearly $37 billion, their highest level since 2000. A major factor in this impressive performance was the $9.6 billion in arms delivered to Near East and Asian countries last year by the United States, the world's largest supplier of weapons to developing nations. The Times cited a just-released Congressional Research Service report as its source for these figures. The weapons being sold include tanks, combat aircraft, missiles, and submarines. It's reassuring to learn that Uncle Sam continues to dominate such an important and constructive segment of the global economy.